QPM Energy (ASX:QPM) has announced a major step forward in its gas development ambitions, unveiling a transformational uplift in certified reserves and resources at its wholly owned Moranbah Gas Project in Queensland.
Independent petroleum consultant Netherland, Sewell & Associates, Inc. (NSAI) has completed an updated modelling assessment and certified 2P Reserves of 602.5 petajoules (PJ) and 2C Resources of 414.2PJ, for a combined total of 1,016.5PJ.
All reserves and resources are contained within QPM’s granted Petroleum Leases, with environmental and regulatory approvals already secured.
The company described the upgraded certification as a pivotal moment in its strategy to become a long-term supplier of Queensland gas, strengthening its position in the domestic energy market while supporting expansion across its integrated gas and power platform.
QPM said it now has more than 800PJ of uncontracted gas reserves and resources available to underpin additional low-cost, long-duration electricity generation capacity at the Isaac Energy Hub.
The expanded reserve base also supports the proposed Bowen Gas Pipeline to Gladstone, which would connect QPM’s gas production with both domestic and liquefied natural gas (LNG) export markets.
The latest certification follows an extensive reassessment of the Moranbah field, incorporating improved operating practices, the successful recommissioning of wells, lower operating costs, and a detailed review of historical production data and recovery factors.
The revised estimates also reflect enhanced field development planning, operational refinements at both field and well levels, modifications to well operating parameters, and changes to cost and capital structures.
QPM Energy CEO, David Wrench, said the new certification underscored the scale and strategic significance of the Moranbah project for Queensland’s long-term energy future.
“QPM’s Moranbah Gas Project has developed into a very significant gas asset with the capacity to underpin Queensland’s gas and electricity markets for the long term,” said Wrench.
“The combination of QPM’s granted Petroleum Leases and extensive production, processing and compression infrastructure is a unique platform enabling the fast-track development of these reserves and a pathway for significant value creation for our shareholders.”
The announcement also highlights the growing importance of the Bowen Basin within Australia’s east coast gas landscape.
QPM noted that the basin is one of five strategic gas provinces identified by the Commonwealth Government as vital to bridging the emerging gap between gas supply and demand across domestic and export markets.
The company further referenced Queensland’s Energy Roadmap, which targets the development of 3.6 gigawatts (GW) of new gas-fired generation capacity by 2035, as reinforcing the state’s commitment to maintaining a reliable and diversified energy supply.
According to QPM, the scale and certainty of the Moranbah reserves provide strong foundations for progressing the Bowen Gas Pipeline.
The proposed link from the Bowen Basin to Gladstone would create a new corridor for gas transport, opening access to major markets at a time when supply shortfall concerns across the east coast have become increasingly pressing.
